Sony Group Corporation (NYSE:SONY) is one of the best oversold stocks to buy under $20. Reuters reported on March 27 that Sony Group Corporation (NYSE:SONY) is raising the global prices of its PlayStation 5 consoles, which includes a $100 ​increase in the United States. This marks its second hike in less than a year, with the company dealing with the increasing costs of key components, such as memory chips. The price hike in the United States, which will be effective April 2, will put the standard PS5 at $649.99, up from $549.99, while the Digital Edition and the high‑end PS5 Pro will now cost $599.99 and $899.99, respectively. In addition, the cost of the PlayStation Portal remote player will also rise to $249.99 from $199.99.

Reuters stated that with the tech industry rushing to build out AI infrastructure, memory makers are favoring higher-margin data-center ⁠chips, which is restricting supply for consumer devices. Similar increases will also take place across Japan and Europe, after what Sony Group Corporation (NYSE:SONY) called a “careful evaluation” of the rising ‌cost ⁠pressures in global supply chains.

Sony Corporation (NYSE:SONY) is a Japanese multinational conglomerate that develops, designs, manufactures, and sells electronic devices, game consoles, and software for industrial markets.

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